Monthly Compliance and Legislation Update - October 2024


Date: Oct 23, 2024 - Oct 23, 2024

CPD hours: 2 Hours

Time: 10:00 - 12:00

Event Type: Webinar

Presenter: Caryn Maitland CA(SA)
Owner, Maitland & Associates

Accountants and auditors must stay informed about changes in legislation and regulations that affect their firms and the business of their clients.

Overview   

Accountants and auditors must stay informed about changes in legislation and regulations that affect their firms and the business of their clients.  

Technical expert Caryn Maitland CA(SA) researches and summarises all relevant and important changes on a monthly basis and presents this in an easily understandable webinar.  


The webinar includes:  

  • A reference guide of all changes to share within the firm;  

  • PPT summary of all new amendments; 

  • Interactive session with the presenter; and 

  • Online Q&A. 


Learning objectives  

After attending this webinar you will: 

  • Be aware of the latest legislative changes and what it means for your business, practice, and your clients; 

  • Be able to inform your staff and clients on how to stay compliant; 

  • Adapt business models to fit new legislative landscapes; 

  • Receive references to documents and guides;  

  • Have access to your own technical resource; and  

  • Have access to the presenter via email for follow-up Q & A. 


Course content  

The following legislative, regulatory, industry standards, items and guides have been issued and/or updated during the preceding month and will be covered in the webinar: 

 

IFRS: 

  • Standards – What’s new? 

    • IASB - Revenue standard (IFRS 15) 

    • IASB - Statement of cash flows research project 

    • IASB - Proposed improvements in applying the equity method comment deadline - 20.01.2025 

    • IASB - Tentative agenda decision - Recognition of revenue from tuition fees (IFRS 15) - comment deadline - 18.11.2024 

    • IASB - Tentative agenda decision - Guarantees issued on obligations of other entities - comment deadline - 18.11.2024 

    • IASB - Narrow scope amendments to IAS 21 published - comment deadline - 22.11.2024 

    • IASB: Proposed amendments to IFRS 19 published - comment deadline - 27.11.2024 

    • IASB - Climate-related and other uncertainties in the financial statements - comment deadline - 28.11.2024 

    • IASB - Proposed IFRS Taxonomy Update on contracts for renewable electricity - comment deadline - 14.10.2024 

    • IASB - Proposed IFRS Taxonomy Update on new and amended IFRS Accounting Standards - comment deadline - 28.11.2024 

  • Public sector 

    • ASB - ASB meeting highlights. 

    • ASB - Post-implementation review of GRAP 109 

    • OAG - Accounting Manuals for Departments 2024/2025 issued 

    • IPSASB - IPSASB meeting Highlights 

Auditing (IRBA, IAASB, etc): 

  • Standards 

    • IAASB -ISSA 5000 approved.  

    • IAASB - 2022-2023 Public Report released. 

    • AFC -The Role of the Auditor: Assessing and Responding to Fraud Risk 

  • Other 

    • IRBA - Clean Audit Report Reflects the Sustainability and Relevance of the IRBA Amidst the Challenging Economic Landscape 

    • LPFF - Various publications for registered auditors 

    • PAOB - Observations From the Target Team’s 2023 Inspections 

    • FRC - Audit committees and assurance: conversation starters 

CIPC: 

  • Notices and Practice Notes issued (Enforcement and to customers): 

    • CIPC announce the IFRS Sustainability Disclosure iXBRL Taxonomy 

    • Notice 62 of 2024: Academic requirements for business rescue practitioner licensing  

    • Notice 63 of 2024: Automation of filing of status reports, substantial implementations and terminations 

    • Notice 64 of 2024: CIPC Scan to email Requirements 

    • Notice 65 of 2024: CIPCs inline eXtensible Business Reporting Language (iXBRL) Taxonomy Update 

    • Notice – Beware of Scammers 

Financial Intelligence Centre (FIC) 

  • FIC Advisory & Guidance 

    • Grey list: Regulators target trusts and NGOs in compliance drive 

    • SA’s largest asset manager, the PIC, feels the sting of greylisting    

    • Small FSP that was fined R1.1m shares four lessons in FICA compliance 

    • FIC cracks down on non-compliant accountable institutions 

Sustainability & Integrated Reporting 

  • Important issues: Sustainability 

    • IFRS Foundation: Guide for companies as investors call for voluntary application of ISSB Standards 

    • Siemens Launches Digital Decarbonization Tool at Climate Week NYC to Help Simplify the Path to Net-Zero Facilities 

    • Global Investors Push for Stronger Climate Policies Ahead of COP29, Urging Governments to Unlock $29 Trillion for Net-Zero Transition 

    • IVSC Perspectives Paper - ESG and Real Asset Valuation 

  • Important issues: Technology (Articles) 

    • Top apps for Accountants 2024  

    • IAASB Unveils New Technology Position to Shape the Future of Audit and Assurance Standards 

Labour Law: 

  • Employment law: 

    • Landmark judgment reinforces employee rights in business transfer case 

    • Labour Court upholds dismissal of Famous Brands' employee over missing bag of sugar  

    • Trial of seven Chinese nationals charged with human trafficking and child labour  

    • Department of Employment and Labour Status of Compliance Report highlights the need to improve compliance with labour law 

    • Inspectors implored to be ready to enforce another “wave” of labour law amendments 

Other Laws & Regulations affecting your client  and impact on NOCLAR: 

  • Other acts and articles: 

    • State-owned companies to be freed from Public Finance Management Act  

    • South African National Water Resource Infrastructure Agency SOC Limited Act  

SARS: 

  • Guides (new, updated & issued): 

    • See Maitland & Associates Inc News Round Up - September 2024 

    • SARS has finally published the FAQ's on the IT3(t)s 

Regulator news: 

  • CIBA 

    • Accounting Weekly Newsletter  

    • CFO Talks 

    • Various guides are available to members in good standing 

  • SAICA 

    • Global Ethics Day 

  • Companies Tribunal 

    • Name disputes (4 granted 1 dismissed) 

    • Directors' disputes (2 dismissed) 

    • Exemptions (1 dismissed) 

  • Information Regulator 

    • Information Regulator close to finalising regulation of telemarketing industry 

  • PPRA 

    • Important communication on fraudulent activities by some property practitioners 

  • Competitions Commission 

    • EFPM Report released 4.10.2024 

    • NEF and Competition Commission sign landmark MOU to entrench compliance and fair business practice 

  • FCSA publications  

    • FSCA Integrated Report 2023-24 

  • CGSO 

    • The biggest consumer complaint in South Africa  

General Announcements / News Releases: 

  • Media articles and other thoughts:  

    • Warning for complexes and estates in South Africa  


Obtaining your CPD certificate   

This training is compliant with the International Education Standard (IES7) issued by the International Federation of Accountants and recognised for CPD by relevant professional bodies including ACCA, CIMA, IAC, IIA, SAICA and SAIPA. 

All attendees are issued with a CPD certificate available in an online profile.   


Who should attend? 

  • Accountants in practice: CA(SA), Professional Accountant (SA), BAP(SA), ACCA, CIMA, IAC, AGA(SA), FCCA.  

  • Practicing auditors, RA. 

  • Company secretaries. 

  • Legal advisors. 

  • Compliance officers. 


Price:                     

  • Individual Booking: R380.00   

  • Group Bookings: 

    • Group Price 1 - From R156 per person (up to 5 users)   

    • Group Price 2 - From R102 per person (up to 10 users)   

    • Group Price 3 - From R92 per person (over 11 users) 

This webinar is available as part of a monthly or annual subscription plan, click here for more information.  


Additional material  

By attending this webinar you will be provided with: 

  • Summarised slide presentation,  

  • Detailed course material and reference documents.   

  • You can ask questions during the webinar via the online portal, and you will also have access to me the presenter via e-mail after the webinar. 


Corporate training solutions 

At the Accounting Academy, we recognize the evolving needs of businesses in today's dynamic environment. Beyond our standard webinar offerings, we provide tailored corporate training solutions designed to empower your team with the latest in accounting and professional skills. Whether you're looking for online sessions or face-to-face training, our programs are crafted to ensure a comprehensive and engaging learning experience. 

Drawing inspiration from modern training methodologies, our corporate solutions are interactive, adaptable, and focused on real-world applications. We prioritize hands-on learning, ensuring your team can immediately apply their newfound knowledge in practical scenarios. 

Interested in a bespoke corporate training experience? Reach out to us at [email protected] or call 010 593 0466. Together, let's design a training program that elevates your team's capabilities and aligns with your organizational goals. 


Contact us 

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